XML 89 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Revenue $ 383.4 $ 362.5
Life, accident and health earned premiums, net 28.6 29.9
Net investment income 51.9 51.1
Net realized and unrealized gains (losses) on investments (19.1) 5.5
Net revenue 444.8 449.0
Operating expenses    
Cost of revenue 346.1 324.5
Policy benefits, changes in reserves, and commissions 72.4 52.7
Selling, general and administrative 52.3 46.9
Depreciation and amortization 0.6 0.3
Other operating income 0.2 (1.0)
Total operating expenses 471.6 423.4
Income (loss) from operations (26.8) 25.6
Interest expense (21.3) (18.8)
Loss on early extinguishment or restructuring of debt (5.8) 0.0
Other income, net 2.8 3.4
Loss from equity investees (2.5) (5.9)
(Loss) income from continuing operations before income taxes (53.6) 4.3
Income tax benefit (expense) 12.6 (4.0)
(Loss) income from continuing operations (41.0) 0.3
Less: Loss from discontinued operations, net of tax (60.0) (6.6)
Net loss (101.0) (6.3)
Net loss attributable to noncontrolling interest and redeemable noncontrolling interest 17.9 3.5
Net loss attributable to HC2 Holdings, Inc. (83.1) (2.8)
Less: Preferred dividends, deemed dividends and repurchase gains 0.4 (1.2)
Net loss attributable to common stock and participating preferred stockholders $ (83.5) $ (1.6)
(Loss) income per share - continuing operations    
Net (loss) income attributable to continuing operations - basic (in usd per share) $ (0.85) $ 0.08
Net (loss) income attributable to continuing operations - diluted (in usd per share) (0.85) 0.04
Loss per share - discontinued operations    
Basic (in usd per share) (0.97) (0.12)
Diluted (in usd per share) (0.97) (0.09)
Loss per share - Net loss attributable to common stock and participating preferred stockholders    
Basic (in usd per share) (1.82) (0.03)
Diluted (in usd per share) $ (1.82) $ (0.05)
Weighted average common shares outstanding:    
Basic (in shares) 45.9 44.8
Diluted (in shares) 45.9 59.7